The cryptocurrency market is currently undergoing a period of high volatility, and Ethereum is no exception to this dynamic. Despite a recent correction, the crypto remains above essential support zones, which could preserve its long-term bullish structure.
U.S. spot Ethereum (ETH) ETFs extended their losing streak on Tuesday ET, posting net outflows for an eighth consecutive trading day—a sign that demand has yet to decisively rebound even as trading activity remains relatively robust. According to data compiled by SosoValue, the U.S. spot Ethereum ETF cohort recorded $28.14 million in net withdrawals on May 20 ET.
Ethereum continues to defend a crucial price floor this week amid mounting pressure from diminishing US market participation and ongoing exchange-traded fund withdrawals. The second-largest cryptocurrency by market capitalization is hovering just above the psychologically important $2,100 mark, where buyers have mounted a determined defense.
The Ethereum Foundation is intentionally reducing its own influence these days.
Ethereum price started a recovery wave above the $2,110 zone. ETH is now consolidating and might struggle to continue higher above the $2,150 resistance.
Ethereum is struggling below $2,150 as selling pressure continues to define the market's short-term direction and the recovery that briefly pushed ETH toward $2,400 fades into memory.
Ethereum (ETH) options markets continued to reflect a constructive bias, with call positions accounting for more than 60% of open interest as traders concentrated activity in near-dated upside strikes—most notably a $2,450 call on Bybit. As of May 21 at 12:00 a.m.
A crypto analyst has shared a new report from Etherealize, a leading crypto research firm, which projects how high the Ethereum price could reach if its market capitalization were to match that of gold. The expert believes that, beyond price action, the Ethereum network could also evolve into a global settlement layer, further solidifying its position in the crypto space.
Ethereum's recent pullback has added pressure to the market, but the broader technical structure continues to show signs of resilience. Despite the decline, ETH remains above several critical support zones, keeping hopes alive that the long-term bullish trend may still be intact if buyers can maintain control at these key levels.
Ethereum broke below a daily triangle, with moving averages sloping lower and $1,350 identified as downside support if the pattern is not reclaimed. Michaël van de Poppe sees accumulation potential through ETH/BTC, where RSI is below 30 and the ratio sits near 0.02748. ETH/USDT RSI remains higher at 36.72, while the SMA100 near $2,151.
Ethereum plans native privacy features as Vitalik Buterin details upgrades to reduce censorship and improve user data protection.
The Coinbase Premium Index is currently in negative territory, showing a lack of demand from U.S.-based investors.